Mahindra XUV700 50,000 Bookings Will Add Rs. 10,000 Crore To The Carmaker's Sales Revenue: Anand Mah

Mahindra now has an accrued income of Rs. 10,000 crore through these 50,000 bookings which will be added to its sales revenue once these units are invoiced and delivered.

By Shubham Parashar

1 mins read

Published on October 8, 2021

Highlights

Mahindra's accrued income is Rs. 10,000 crore from XUV700 50,000 bookings
Mahindra bagged 50,000 bookings in just two days of the announcement.
First batch of 25,000 bookings came in 57 minutes, second batch in 2 hrs.

The new Mahindra XUV700 is selling like hot cakes and quite obviously will in-turn strengthen the financial books of the automaker. The company received a staggering 50,000 bookings for its new flagship SUV in just two days and Anish Shah, MD & CEO - Mahindra & Mahindra took to Twitter confirming that it will translate into Rs. 10,000 crore in terms of ex-showroom price value. And this was further reaffirmed by Anand Mahindra, Chairman - Mahindra & Mahindra. To put that into perspective, Mahindra now has an accrued income of Rs. 10,000 crore through these 50,000 bookings which will be added to its sales revenue once these units are invoiced and delivered. Bookings opened today for the 2nd round of 25K cars. These were also gobbled up in a flash. Cumulatively, 50K XUV700s spoken for,signifying a value of near 10,000cr. The customer enthusiasm is staggering & as I said yesterday,we respect the responsibility it puts on us ???????? https://t.co/4xAYp3QlME — anand mahindra (@anandmahindra) October 8, 2021 undefined Also Read: Mahindra XUV700 Bookings Cross 50,000 Mark The second batch of bookings came despite Mahindra increasing the price by Rs. 50,000 for the new XUV700. Bookings for the new SUV were first opened on October 7, 2021, and in just 57 minutes the company received an overwhelming 25,000 bookings for the 2021 Mahindra XUV700. The next day, on October 8, 2021 the company again received over 25,000 bookings in just two hours, the booking window opened, thus crossing the 50,000 bookings milestone in just two days. Now this second batch of bookings came despite Mahindra increasing the price by Rs. 50,000 for the new XUV700. We're close to 10,000 cr in ex-showroom value of XUV700, with over 50K bookings (yesterday and today) ... our sincere gratitude to all our customers for the trust reposed in us, the @MahindraXUV700 and we at @MahindraRise will live up to it. @anandmahindra @rajesh664 https://t.co/2nuT23xhsQ — Anish Shah (@anishshah21) October 8, 2021 undefined Also Read: Mahindra XUV700 First Drive Review: Petrol And Diesel Driven The new Mahindra XUV700 is offered in two trim options- MX and AX. Mahindra had already said at the launch that the introductory prices were applicable only for the first 25,000 bookings and now prices have been hiked by Rs. 50,000. The new Mahindra XUV700 is offered in two trim options - MX and AX, and the former is only offered with a manual transmission. The AX series in-turn gets three variants - AX3, AX5 and AX7. All three get petrol and diesel engine options, and both options are offered in manual and automatic transmission choices. After the launch, Mahindra also added two additional higher spec variants - AX7 Luxury MT priced at Rs. 19.99 lakh, while the new top-end AX7 Luxury AT AWD trim is priced at Rs. 22.89 lakh.